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Old 03-09-2018, 10:43 AM
 
1 posts, read 645 times
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My husband was offered a very exciting role in dc. The problem is we live a very cheap comfortable lifestyle in the Midwest due to cost of living. Salary would be about 300k with more pay in stock that vests over time. Is 300k going to get us far in Dc? I’d be staying at home with our baby.

We like the Tyson’s corner area or Arlington? Thoughts on salary vs cost of living? I feel as if we are going from a big fish to a small one. Perhaps I’m being parinoid but our home here would easily be over a million dollars in the dc area. Not sure if the cost of living would be worth it. Any input would be helpful!
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Old 03-09-2018, 11:04 AM
 
Location: Tucson
341 posts, read 424,081 times
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300K is a ton of money, congrats. You will do okay in DC, but Tyson's/Arlington can be a million dollar zip code if you are trying to get a typical suburban home that you would enjoy in the Midwest. If you can sacrifice on space, you'll be fine.
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Old 03-09-2018, 11:09 AM
 
662 posts, read 783,693 times
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Quote:
Originally Posted by Jmj78 View Post
My husband was offered a very exciting role in dc. The problem is we live a very cheap comfortable lifestyle in the Midwest due to cost of living. Salary would be about 300k with more pay in stock that vests over time. Is 300k going to get us far in Dc? I’d be staying at home with our baby.

We like the Tyson’s corner area or Arlington? Thoughts on salary vs cost of living? I feel as if we are going from a big fish to a small one. Perhaps I’m being parinoid but our home here would easily be over a million dollars in the dc area. Not sure if the cost of living would be worth it. Any input would be helpful!
Northern VA is a very expensive zip code with a lot of competition in the 750-1m range. Good luck!
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Old 03-09-2018, 11:19 AM
 
Location: Bowie but New Orleans born and bred
712 posts, read 1,093,275 times
Reputation: 547
If your focus is already Tyson's Corner or Arlington, you should post this question in the NOVA subforum: //www.city-data.com/forum/northern-virginia/

Salary vs cost of living varies throughout the region, sometimes significantly depending on where you're looking.
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Old 03-09-2018, 11:26 AM
 
2,195 posts, read 2,690,517 times
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Depends on your family's financial situation (debt?), but obviously $300K goes quite far in nearly any suburban zip code. While you wouldn't be in the 1% here, you'd certainly be in the 10% (average household income in the wealthiest DC-area counties (which are also the wealthiest counties in the U.S.) is in the $100-120K range). I'd speak to a financial adviser who can review your finances and provide a clear picture of what you could afford to spend on housing w/the new salary. Then, you can consider how far that $$ will go around here and decide if that'd meet your needs.
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Old 03-10-2018, 10:17 AM
 
170 posts, read 188,421 times
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I'm curious -- what is it that he will be doing? It is implied that it is a far cry from your current household income in the Midwest.
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Old 03-10-2018, 12:07 PM
 
Location: The Triad
34,090 posts, read 82,988,469 times
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Quote:
Originally Posted by Jmj78 View Post
My husband was offered a very exciting role in dc.
Salary would be about 300k with more pay in stock that vests over time.
The problem is we live a very cheap comfortable lifestyle in the Midwest due to cost of living.

Is 300k going to get us far in Dc?
$300K in DC is worth about what $200K is in Peoria (or similar)
MOST of the difference is in real estate
https://www.bankrate.com/calculators...alculator.aspx
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Old 03-11-2018, 12:23 PM
 
4,399 posts, read 4,295,321 times
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300k is a lot even by D.C standards. I would start looking in Bethesda.
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Old 03-11-2018, 12:40 PM
 
Location: (Orginally From Ann Arbor, MI) Now reside in Evans, Georgia
560 posts, read 1,143,312 times
Reputation: 314
If you make 200,000 a year you can easily find a place to afford in the dc metro/suburbs.
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